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Soybean prices fall on better weather forecasts

Soybean prices fall on better weather forecasts

Soybean prices are falling as investors anticipate that weather conditions may improve in Argentina, which has had hot, dry weather. Wheat prices also fell.
The March soybean contract lost 12.5 cents or 1 percent, settling at $11.965 Friday.
Recent forecasts have called for rain in the coming days in Argentina, a major producer of soybeans and corn. The rain could mitigate damage to the crops, resulting in less of a supply pinch than analysts had feared.
Metals prices were mixed. February gold lost $3.30 to settle at $1,616.80. Copper edged up just less than a penny to $3.435 a pound. Silver lost 2 percent, settling at $28.683.
Energy prices were mixed. Crude oil lost a quarter to settle at $101.56.


Updated : 2021-06-14 14:54 GMT+08:00